Bank DBS Collaborates With Mirae Asset Sekuritas, Targets To Get 1 Million New Investors

JAKARTA - PT Bank DBS Indonesia (Bank DBS) is collaborating with PT Mirae Asset Sekuritas Indonesia to provide a Customer Fund Account (RDN) service with a target of attracting one million new investors in the next five years.

Consumer Banking Director of Bank DBS Melfrida Gultom explained that the presence of RDN is a form of commitment from both parties to support wealth democracy efforts that make it easier for customers to navigate their future in capturing investment opportunities.

"More than that, through RDN, we hope to strengthen and advance the capital market in Indonesia," said Melfrida at the Indonesia Stock Exchange (IDX) Building, Jakarta, quoted from Antara, Tuesday, September 24.

He said that this effort aims to become a Trusted Wealth Manager with various smart, safe, reliable, and relevant investment solutions, which this service offers convenience with one payment account for all capital market activities.

"This product also provides various benefits such as competitive interest rates, without minimum balance, and free of admin fees," said Melfrida.

On the same occasion, Director of Mirae Asset Sekuritas Indonesia Tomi Taufan said this collaboration aims to expand the line of investment products that customers can take advantage of in managing wealth and achieving their financial aspirations.

He hopes that this collaboration will expand collaboration to offer better investment solutions and democratize wealth, as well as bring new collaboration opportunities, such as bonds and co-branded saving account services, so that high-quality financial options can be accessed more easily and comfortably by all customers.

In July 2024, Bank DBS Indonesia was appointed by PT Kustodian Sentral Efek Indonesia (KSEI) to become a bank administrator for RDN and a payment bank.

In the period 2024-2029, all RDN administrator banks will play a role as KSEI payment banks, so that they can carry out the function of completing securities transactions in the capital market and provide alternatives to providing intraday facilities to securities companies.

As of June 2024, KSEI noted that the number of investors in the Indonesian capital market reached 13 million investors with an average daily transaction of IDR 12.3 trillion, and an average investor growth rate of 38.7 percent per year since 2020, with 99 percent dominated by local individuals.

In line with this data, YouGov's research for Bank DBS Indonesia in 2023 shows that 31 percent of the people from the upper class prioritize investing after saving (51 percent) in managing their assets.

The same study noted that 41 percent of people use online applications to access financial services, underlining the importance of investment integration with technology.